At the Helm of the Golden Empire
Despite huge commercial success, Dahabshiil remains a family owned company, however not much is known about the family itself. SHEEKO recently met up with CEO, Abdirashid Duale.
Article written by: Laila Ali Egge
While media pundits and politicians debate the pros and cons of immigration, one thing is clear - the number of immigrants both in the U.K and worldwide is growing rapidly. And, according to reports (by The World Bank and, UN), these workers are using money transfers to send funds back to their home countries. Described as one of the most efficient and cheapest money transfer services, Dahabshiil is the largest money transfer company serving migrants from the Horn of Africa.
I had never met Mr. Duale before, and on my way to the interview, I was naturally nervous as I grew up hearing the name of his empire mentioned regularly. On arrival at his busy east end office in London, I could only anticipate and be excited about the interview. I sat in the lobby peering out of the glass window, waiting for him. Observing anxiously, as I was about to embark on my first meeting and greeting, I was expecting to meet an elderly man in a conservative suit, and with an even more conservative attitude. You can imagine my surprise to be greeted by a friendly young man wearing a casual shirt and trousers.
He led me into his plush and comfortable office. His friendly attitude put me at ease, and couldn’t help liking his very personable character coupled with immense humility. I immediately seized the opportunity to grill him on questions many of you would like to know: namely how does it feel to be a CEO of a global company and of the jet set lifestyle that comes with it? He laughed out aloud, and simply confirmed that ‘it feels good”, but Abdirashid (as he insisted I call him) is also quick to stress that nothing was handed to him on a plate, that he had to work hard and prove that he was more than capable of taking the lead role.
Dahabshiil is a name that has gained fame and respect among Somalis both at home and in the Diaspora. The money transfer and banking business of the family owned company was started in the aftermath of the civil war in Somalia to enable Somali migrants abroad to send money back home and in the process earning the family a sizeable fortune. The company was set up by Mohamed Saeed Duale and like so many other successful businesses set up by entrepreneurs, such as Sir Alan Sugar and Sir Richard Branson, started from not much at all. Dahabshiil has been in business since the early 1970s and has since grown to be one of the largest and most established money transfer companies to have ever emerged from the Horn. Today it has an extensive worldwide network that stretches from North America, Western Europe, to East and West Africa. Prior to becoming the CEO, Abdirashid had worked alongside his father who has been the Chairman for many years, learning the tools of the trade. As with everything in life, there are pros and cons, Abdirashid tells me, although he feels blessed with the level of success he has enjoyed, travelling to visit all the Dahabshiil branches around the world means he is often away from his family, which can be difficult.
